| Citrix Systems Tops Estimates
The Fort Lauderdale, Fla., software developer reported revenue of $399.6 million, up 24.5% from a top line of $321 million a year ago. Revenue was also 5% above analysts' estimates of $380.4 million, according to Thomson Financial. Net income rose 19%, to $62.8 million, or 33 cents a share, from $52.9 million, or 29 cents a share, in the year-ago period. Excluding items, EPS was 49 cents, well ahead of analysts' expectations for 43 cents a share. The stock was up $3, or 9.4%, to $35 in after-hours trading. The board added $300 million to its share-repurchase program Wednesday. Citrix retired about 5.4 million shares during the quarter at a cost of $213 million, CFO David Henshall said on a conference call. Citrix forecast first-quarter revenue of $367 million to $377 million and EPS, less items, of 33 cents to 35 cents.
Nylex falls after takeover bid withdrawn
SHARES in Nylex fell 17.5 per cent today after a private equity firm withdrew its takeover proposal for the building, automotive and plastic products maker. The stock ended down 35 cents to $1.65, after trading as low as $1.55 during the day. On Friday, after the market had closed, Nylex revealed that CHAMP Private Equity would not be making a firm offer for the company after its indicative offer of $2.65 a share in November. Nylex said talks with CHAMP had now ceased. Executive chairman Peter George said the Nylex board was not surprised the proposal had been withdrawn, given the recent turbulence in global financial markets. He said Nylex was still positioned to grow its businesses and build on the benefits of a restructuring program.
Overstock.com (OSTK) Announces $20M Stock Buyback
Overstock.com, Inc. (Nasdaq: OSTK) today announced that its Board of Directors has authorized a $20 million two-year repurchase program which will allow Overstock.com to buyback shares of its common stock and/or its Convertible Senior Notes. The shares may be repurchased from time to time in open market transactions or otherwise, subject to market conditions and other factors, including blackout periods imposed by Overstock.com, during which the Company prohibits its insiders and employees from trading in the Company's stock. Overstock.com, Inc. operates as an online retailer that offer discount brand name merchandise for sale primarily over the Internet. Related Categories Stock Buybacks Stocks Mentioned .
Swan blames inflation rise on previous govt
Federal Treasurer Wayne Swan has used today's inflation figures to attack the previous Howard Government's economic record. The Consumer Price Index has risen a slightly higher than expected 0.9 per cent, driven by petrol prices, banking costs, rising rents and domestic holidays. That takes annual inflation to 3 per cent, which is right on the Reserve Bank's upper limit. Perhaps more importantly, the central bank's own two underlying measures have surged to 3.8 and 3.4 per cent. Today's cost of living figures from the Bureau of Statistics are seen as crucial ahead of next month's interest rates decision from the Reserve Bank. Mr Swan says elevated inflation is the Liberal Party's parting gift to Australian families. "Now it's pretty clear when you look at underlying inflation that these pressures have taken a long time to build," he said.
My Turn: Why I don't 'shop Taos'
Local newspapers often print letters from merchants in Taos County who encourage residents of the city and county to shop locally. Many local retail establishments are struggling to survive and residents are asked to purchase here to support the local economy. I rarely shop Taos. I wait once a month and shop in Santa Fe, or, when on business out of state, shop and mail my purchases home. I also make frequent purchases over the Internet. Why? Because I have experienced the following: Choice is limited. I don’t find what I need here. It’s just as easy to order over the Internet and receive my goods for the minimal cost of shipping and get exactly what I want when I want it. The purchase usually arrives in a matter of two to three days and is delivered to my door. Cost of shipping usually amounts to the cost of a couple of gallons of gas at most (and if the order is large enough, shipping is free). Many merchants don’t make it easy to purchase what I need. More than one merchant on the plaza refuses to take checks.
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